Money Box
Money Box Live: Pensions, Actually
Oct 11, 2023
Richard Curtis, Sophie Smith, and Helen Morrisey discuss the importance of green investments for engaging young people in pensions. They also explore the problem of self-employed individuals not saving enough, the power of retirement funds in addressing climate change, and taking ownership of your financial future through pensions dashboards.
28:26
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Quick takeaways
- Pension education should be introduced early to develop a saving habit and lower the auto-enrollment age to 18.
- Saving more for retirement is crucial due to the difficulty of getting onto the housing ladder and the rising cost of living.
Deep dives
The Importance of Teaching Young People about Pensions
The podcast episode discusses the importance of educating young people about pensions. It highlights a debate among teenagers about the benefits of saving versus spending, with saving being the preferred option. The episode emphasizes the need to introduce pension education early, as it helps develop a long-term saving habit. The proposed lowering of the auto-enrollment age from 22 to 18 is mentioned as a means to encourage young people to start saving earlier. It also addresses the challenges of getting younger workers to think about pensions, such as affordability and complexity.
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